Public Law 88–264

paragraph

Small Business Act, amendment.

72 Stat. 389.

15 USC 636.

(2) of section 7(b) of the Small Business Act is amended to read as follows:

“(2)“(2)

to make such loans (either directly or in cooperation with banks or other lending institutions through agreements to participate on an immediate or deferred basis) as the Administration may determine to be necessary or appropriate to any small business concern located in an area affected by a disaster, if the Administration determines that the concern has suffered a substantial economic injury as a result of such disaster and if such disaster constitutes—

“(A)“(A)

a major disaster, as determined by the President under the Act entitled ‘An Art to authorize Federal assistance to States and local governments in major disasters, and for other purposes’, approved September 30, 1950, as amended (42 U.S.C. 1855–1855g), or

64 Stat. 1109.

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“(B)“(B)

a natural disaster, as determined by the Secretary of Agriculture pursuant to the Consolidated Farmers Home Administration Act of 1961 (7 U.S.C. 1961);”.

75 Stat. 311.

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Section 7(b) of such Act is further amended by striking out the period at the end of paragraph (3) and inserting in lieu thereof “; and”, and by adding after paragraph (3) a new paragraph as follows:

“(4)“(4)

to make such loans (either directly or in cooperation with banks or other lending institutions through agreements to participate on an immediate or deferred basis) as the Administration may determine to be necessary or appropriate to assist any small business concern in reestablishing its business if the Administration determines that, such concern has suffered substantial economic injury as a result of the inability of such concern to process or market a product for human consumption because of disease or toxicity occurring in such product through natural or undetermined causes.”

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